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Baker Hughes posts Q4 profit as higher oil prices spur drilling demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A Baker Hughes sign can be seen outside Sherwood Park office, Alberta’s oil logistics firm, Canada, November 13th 2016. REUTERS/Chris Helgren/File Photograph

(Reuters) – Baker Hughes Co announced Thursday an adjusted quarterly loss compared to a year earlier. The increase in crude prices caused by rising demand for equipment used in oilfield servicing was a factor.

The adjusted net income, or 25cs per share in the three months ending Dec. 31, was $224 Million, compared to a loss last year of $50 million or 7cs per share.

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